Handling BSA/AML Requirements when doing Business with Marijuana Customers

Duration: 60 Minutes
Attend this webinar to obtain guidance on doing business with marijuana customers.
Banking with Marijuana Businesses
Product ID: 509074
Objectives of the Presentation
The objectives of the presentation are to:
  • Understand BSA/AML implication for marijuana businesses
  • Overcome challenges of doing business with marijuana business customers
  • Interpret government guidance
  • BSA Program oversight of marijuana customers
Why Should you Attend
This webinar is intended to provide information and guidance to assist financial institution in building relationships while maintaining compliance. The ability to do so can assist in a financial institution's growth and expansion. Doing business with marijuana based business and remaining compliant with BSA/AML rules and regulations has become an increasing concern for financial institutions as more states legalize marijuana.

Areas Covered
The key areas covered in this webinar are:
  • BSA/AML laws and its implications on the marijuana customers
  • Enhancing current BSA Program to include marijuana customers
  • Due Diligence of marijuana customers
  • Employee training for marijuana customers
  • Auditing for marijuana customers
  • Staying out of the headlines when doing business with marijuana customers
  • How to document marijuana customers
Who will Benefit
  • New Account Operations
  • BSA AML Officer
  • BSA AML Departments
  • Deposit Operations
  • Auditors
Topic Background
More than half the states, including, the District of Columbia, Guam and Puerto Rico have all legalized the use of marijuana in certain aspects. However, possession, distribution or sale of marijuana continues to be illegal under federal law. In other words, money that can be traced back to state marijuana operations could be considered money laundering and expose a bank to significant legal, operational and regulatory risk. This gap between federal and state law leave financial institutions stuck between their goal to meet their communities' the financial needs and the threat of federal enforcement action.
$200
Recorded Session for one participant
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How it works
Live Session - How it works
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  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Dr. Gina J. Lowdermilk, PhD (ABD), CAMS, CRMS is a qualified BSA/AML and Financial Regulatory Compliance professional with extensive policy and procedure development and implementation, training, internal audit, monitoring, risk management, and reporting experience. Her emphasis has been on working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work with small community banks to large international financial institutions. Her roles not only included BSA/AML and Compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.

Ms. Lowdermilk has worked with all of the financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS, and Metavante banking software. Gina has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and Compliance articles, training materials, and manuals as per clients’ requests.


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